Message from moi:
They sho' is good to us.
They sho' is good to us.
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| 2014 Preakness Stakes in Baltimore, Maryland. Source: Wikipedia |
Published on Zero Hedge (http://www.zerohedge.com)
The Sham Boom
By Tyler Durden
Created 07/01/2014 - 13:55
What last week's figures tell us is there is no real recovery. Just a sham boom created by easy money. We've now got two months of figures for the second quarter. They tell us the same thing the first quarter's numbers told us. Consumers aren't spending like it was 2007. They're spending like it was 2009... or 2010... or 2011. In other words, they're spending as though they were reasonable people who have realized how the system works. The Fed creates a world where its friends and cronies can borrow at below the rate of consumer price inflation. The 1% gets richer. The other 99% struggles to keep up with the bills. Six years of "stimulating" the economy by giving it more of what it least needed has produced no real recovery... just more debt. It has also produced a corrupt money system in which almost every race is fixed. The 1% wins every time. The consumer is barely able to limp around the track.
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